Australian top 50 technology companies of 2018

The 2018 Deloitte Technology Fast 50 Australia Awards have led the way through innovation, delivering more than $1.5 billion to the economy, capturing global attention.

The list shows the way companies are disrupting the way we buy insurance, food, cosmetics, mountain bikes and real estate, as well as the way we recruit, hire and promote women in the work place.

The top 3 companies were

Afterpay topping the list with average revenue growth of 8,134 per cent over the last three years.

Founded by young Sydney entrepreneurs Nick Molnar and Anthony Eisen, Afterpay launched its reverse lay-by model in 2014, changing the way people pay for shopping and exporting the platform to thousands of retailers and millions of customers across the globe.

Mate Communicate was placed second with 3,703 per cent growth,

Mate is an NBN internet service provider with its ‘backyard’ call centre and community first approach.

and

Superloop came in third with an increase of 1,860 per cent.

Superloop is an internet service provider offering cutting edge connectivity solutions in Australia, Singapore and Hong Kong. It has built secure, world class networks that telecommunications, media and financial institutions depend on.

Rounding off the top 10 was

Vamp (4 – 1,285 per cent);

Zip (5 – 1,245 per cent);

Swift Networks (6 – 1,211 per cent);

Koala (7 – 1,022 per cent);

PEXA (8 – 757 per cent);

Truck Dealers Australia (9 – 685 per cent) and

Megaport (10 – 637 per cent).

Other notable winners included

Cevo (14 – 461 per cent);

Adactin (16 – 403 per cent);

Prospa (20 – 308 per cent) and

Araza (28 – 200 per cent), alongside

Skyfii (32 – 164 per cent);

Idea 11 (36 – 137 per cent);

Over the Wire (40 – 127 per cent) and

Venn IT Solutions (43 – 114 per cent).

Barhead Solutions was named the 2018 Rising Star.

Delloitte’s Josh Tanchel noted that companies like Afterpay, Zip, Prospa and MoneyMe are genuine success stories for Australia and reminders of how fresh thinking fintechs are fundamentally changing the ways we pay for goods and manage our finances.

He went on to say that a key to their success was a customer focus and a ‘profit for purpose philosophy’.

Interesting Stats

9 female founders made the list and 25pc of the top 50 companies were listed,

The top 50 came from the following sectors:-

24 per cent fintech (including insurance);

22 per cent software;

20 per cent IT and communications;

18 per cent online;

14 per cent digital agency and

2 per cent medical.

From a State perspective

NSW 27

Victoria 11

Queensland 10 and

Western Australia (2),

The next 12 months growth is expected to come from

fintech

AI development, in

5G telecommunications and

implementation of cloud-based business systems

It’s fantastic to see that the collaboration of Universities, Government and Corporates, and the maturity of the Venture Capital community with the support of the major Superannuation fund’s, is providing the opportunities for this amazing innovation to happen, allowing Australia to continue to punch above its weight in this exciting evolution of change .